Exhibit 10.4
XPLORE TECHNOLOGIES
CORP.
14000 Summit Drive, Suite 900
Austin, TX 78728
February 27, 2009
Philip S. Sassower
Phoenix Venture Fund LLC
110 East 59 th Street, Suite 1901
New York, NY 10022
Re:
Note Purchase Agreement, dated September 5,
2008
Gentlemen,
Reference is made to that certain
Note Purchase Agreement, dated September 5, 2008, by and among
Xplore Technologies Corp. (the “ Parent ”),
Xplore Technologies Corporation of America (the “
Subsidiary ” and collectively with the Parent, the
“ Borrowers ”) and the Purchasers listed on
Schedule I and Schedule II thereto (the “ Note Purchase
Agreement ”), the promissory notes issued in connection
therewith by the Borrowers to the Purchasers (the “
Notes ”) and the warrants issued in connection
therewith by the Parent to the Purchasers (the “
Warrants ”). Any capitalized terms used but not
otherwise defined herein shall have the same meanings ascribed to
such terms in the Agreement.
The parties hereto hereby agree as
follows:
1.
The Note Purchase Agreement is amended to extend the Maturity Date
of each of the Notes to December 31, 2010.
2.
Section 9 (Certain Definitions) of the Note Purchase Agreement
is hereby amended by deleting in its entirety the definition of
Maturity Date and inserting in lieu thereof the following
definition:
“
Maturity Date ” shall mean, with respect to any Note,
December 31, 2010.
3.
Section 1 of each Note is hereby amended to extend the
Maturity Date (as defined therein) to December 31,
2010.
4.
The Note Purchase Agreement is amended to reduce the Warrant
Exercise Price to the lower of (i) $0.10 per share, or
(ii) the volume weighted average trading price of the
Company’s Common Stock for the 5 trading days prior to
February 27, 2009.
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